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After a Stretchy Consolidation Bout, Bitcoin (BTC) Bull Case May Be Bolstered in the Days Ahead Due to This

Generally speaking, Bitcoin, the largest cryptocurrency by market cap could be said to have had a positive week so far. After diving to lows of $8,600, Bitcoin (BTC) had a strong rebound in the last few days pushing it past the $9,500 key handle, setting an 8-day high in the process.

Despite Wall Street giant Goldman Sachs’s critical outlook on Bitcoin recently, Bitcoin bulls remained defiant as they pushed further to highs of $9,625. Bitcoin has been consolidating within the sub $9,000 levels in the last few days, not posting any decisive trend after it met resistance at $9,700 key level.

The top asset, Bitcoin (BTC) had embarked on an impressive rally since April surging from the $3,800 lows it hit during the March 12th market carnage. Since then, Bitcoin (BTC) has gained over 150% implying that Bitcoin (BTC) has outperformed generally than any other multi-billion dollar asset in the time frame mentioned.


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